Rakuten Securities Inc. Boosts Stock Position in The Boeing Company (NYSE:BA)

Rakuten Securities Inc. lifted its holdings in shares of The Boeing Company (NYSE:BA) by 103.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 14,968 shares of the aircraft producer’s stock after acquiring an additional 7,606 shares during the period. Boeing makes up approximately 1.3% of Rakuten Securities Inc.’s investment portfolio, making the stock its 16th largest holding. Rakuten Securities Inc.’s holdings in Boeing were worth $2,553,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Sierra Ocean LLC purchased a new stake in Boeing in the fourth quarter valued at approximately $26,000. American National Bank & Trust lifted its holdings in Boeing by 474.1% in the first quarter. American National Bank & Trust now owns 155 shares of the aircraft producer’s stock valued at $26,000 after acquiring an additional 128 shares during the period. HighMark Wealth Management LLC lifted its position in shares of Boeing by 121.6% during the 4th quarter. HighMark Wealth Management LLC now owns 164 shares of the aircraft producer’s stock valued at $29,000 after buying an additional 90 shares in the last quarter. REAP Financial Group LLC lifted its position in shares of Boeing by 60.2% during the 4th quarter. REAP Financial Group LLC now owns 173 shares of the aircraft producer’s stock valued at $31,000 after buying an additional 65 shares in the last quarter. Finally, Anfield Capital Management LLC lifted its position in shares of Boeing by 113.1% during the 4th quarter. Anfield Capital Management LLC now owns 179 shares of the aircraft producer’s stock valued at $32,000 after buying an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Boeing Stock Performance

Shares of NYSE BA opened at $201.74 on Tuesday. The Boeing Company has a fifty-two week low of $128.88 and a fifty-two week high of $218.80. The firm has a market capitalization of $152.11 billion, a PE ratio of -11.01 and a beta of 1.43. The stock’s 50-day simple moving average is $190.18 and its 200-day simple moving average is $177.43.

Boeing (NYSE:BA) last issued its earnings results on Wednesday, April 23rd. The aircraft producer reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($1.39) by $0.90. The business had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.57 billion. Boeing’s revenue was up 17.7% on a year-over-year basis. During the same period last year, the business posted ($1.13) EPS. On average, sell-side analysts forecast that The Boeing Company will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP David Christopher Raymond sold 3,899 shares of Boeing stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $187.01, for a total value of $729,151.99. Following the sale, the executive vice president now directly owns 42,513 shares in the company, valued at $7,950,356.13. The trade was a 8.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Brendan J. Nelson sold 640 shares of Boeing stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total value of $132,019.20. Following the completion of the sale, the senior vice president now owns 13,258 shares in the company, valued at approximately $2,734,860.24. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,744 shares of company stock valued at $1,511,370 over the last quarter. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Bank of America raised shares of Boeing from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $185.00 to $260.00 in a research note on Monday, June 2nd. Melius raised Boeing from a “hold” rating to a “buy” rating in a research note on Monday, March 24th. Wells Fargo & Company reiterated an “underweight” rating on shares of Boeing in a report on Thursday, May 22nd. Cowen reiterated a “buy” rating on shares of Boeing in a report on Wednesday, May 7th. Finally, Royal Bank of Canada restated a “cautious” rating on shares of Boeing in a report on Thursday. Four research analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $209.85.

Boeing Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.